Biden Unveils Suite of Actions to Support Climate Resilience and Food Systems in Developing Countries

President Joe Biden today announced a set of initiatives to support developing countries adapt to climate impacts, reduce methane emissions, and build climate-smart food systems. The actions include a new framework to reduce greenhouse gas emissions from the fossil fuel sector, doubling the contribution to the Adaptation Fund, and increasing financing for climate-smart food systems. The efforts aim to address the interconnected challenges of climate change, energy poverty, and food security.

Key Takeaways:

• The new framework involves the U.S., the European Union, Japan, Canada, Norway, Singapore, and the United Kingdom to collaborate on minimizing greenhouse gas emissions, including methane, across oil and gas supply chains.
• The Joint Declaration aims to create a market for low methane-intensity natural gas by improving emissions data and implementing emission mitigation plans.
• The declaration seeks to achieve results quickly and with greater certainty by leveraging existing resources, such as the Oil & Gas Methane Partnership and the International Methane Emissions Observatory.
• The United States will double its contribution to the Adaptation Fund to $100 million and provide over $150 million to accelerate the Emergency Plan for Adaptation and Resilience (PREPARE)'s work across the continent.
• The Biden administration is taking action to support the building of climate-smart food systems in developing countries, including increasing financing and infrastructure, and expanding key initiatives.
• The focus is on supporting financing for climate-smart food systems across the globe, particularly in Africa, to give farmers, fishers, and those in the food systems supply chain the finance, tools, and information they need to make climate-smart decisions.

Statistics:

• At least 80 million tons of natural gas are wasted annually due to methane pollution in the fossil fuel sector.
• The United States will contribute $100 million (doubled from its previous commitment) to the Adaptation Fund in support of developing countries.
• Over $150 million will be provided to accelerate the Emergency Plan for Adaptation and Resilience (PREPARE)'s work across the continent.

Sources:

• Environmental Defense Fund (edf.org)
• Environmental Defense Fund [Category: Agriculture, Management Changes, ESG]
• Contify.com (Copyright 2017)